Carnival profits lower as fuel up

Carnival, the world’s biggest cruise firm, has seen profits fall in the second quarter amid rising fuel costs and lower demand for Caribbean cruises.

The firm saw net income at $380m (

While year-on-year revenues rose by 6%, fuel costs rose by 43% in the same period, the firm said.

The rise in energy prices reduced earnings by $74m, the firm’s chief executive officer Micky Arison said.